The Following Data for November Have Been Provided by Norton

question 10

Essay

The following data for November have been provided by Norton Corporation,a producer of precision drills for oil exploration: $$\begin{array} { | l | r | l | } \hline \text { Budgeted production } & 4,000 & \text { drills } \\\hline \text { Standard machine-hours per } & 8.4 & \text { machine-hours } \\\text { drill } & \$ 9.40 & \begin{array} { l } \text { per machine- } \\\text { hour }\end{array} \\\hline \text { Standard indirect labor } & \$ 2.90 & \begin{array} { l } \text { per machine- } \\\text { hour }\end{array} \\\hline \text { Standard power } & 4,300 & \text { drills } \\\hline \text { Actual production } & 36,530 & \text { machine-hours } \\\hline \text { Actual machine-hours } & \$ 362,756 & \\\hline \text { Actual indirect labor } & \$ 97,693 &\end{array}$$
Required:
Compute the variable overhead rate variances for indirect labor and for power for November.Indicate whether each of the variances is favorable (F)or unfavorable (U).Show your work!